The Hindu Business Line : Thursday, May 30, 2002

`Strategic partner free to use reserves of divested PSUs'
STRATEGIC partners are free to utilise cash reserves of public sector units (PSUs) that have been privatised including investment in other companies provided the decision is ratified by the board under the provisions of the Companies Act, ... More

VSNL says it acted in its business interest -- No objection yet from Govt: Tatas
NEITHER Videsh Sanchar Nigam Ltd (VSNL) nor the Tata group has received any formal communication from the Government protesting the VSNL board's decision on Tuesday to invest up to Rs 1,200 crore in Tata TeleServices, said Mr Kishore Chaukar, ... More

VSNL: Govt nominee `opposed' it
IN what could lead to further complications for Videsh Sanchar Nigam Ltd (VSNL) in its spat with Union Communications Minister, Mr Pramod Mahajan, the Government nominee on its Board, Mr Rakesh Kumar, has shot off a letter to the Managing ... More

War expenses factored in Budget: Sinha
THE Finance Minister, Mr Yashwant Sinha, today admitted to some pressure on the expenditure front due to the troop mobilisation on the Indo-Pak border, but maintained that this was factored in the budget estimates. "We have had the threat of a ... More

Ministry plans search and seize steps for tax evaders
THE Finance Ministry has decided to proceed with a slew of tough measures including stepping up searches, scrutiny and seizures as well as tracking ownership of bank lockers to shore up tax revenues. At the XVIII All-India Conference of Chief ... More

Foreign shareholding in India Inc ebbs
FOREIGNERS find Indian corporate assets just that bit less attractive now than they did a year ago. They own fewer shares and their holdings are also worth less than a year ago. An analysis of shareholding pattern of the companies that ... More

TNPCB show-cause to Hyundai Motor
THE Tamil Nadu Pollution Control Board (TNPCB) has issued a show cause notice to Hyundai Motor (India) Ltd for alleged environment violations at its car plant at Sriperumbudur, near Chennai. According to informed sources, the notice, issued on ... More

Hind Lever Chem posts higher net
HIND Lever Chemicals Ltd has reported a net profit of Rs 11.29 crore for the quarter ended March 31, 2002 as compared to Rs 3.99 crore in the year-ago period. Net sales were Rs 231.54 crore (Rs 219.93 crore). The company's current accounting ... More

Monsoon sets in ahead of schedule
THE South-West monsoon has been formally declared set in over southern Kerala with heavy to very heavy rainfall having been recorded in almost all southern districts in the State. Speaking to Business Line, the Director of the local Met Office, ... More

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